{"data":{"id":"us-nd/n.d.-cent.-code-41-09-60","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 41-09-60","heading":"(9-340) Effectiveness of right of recoupment or setoff against deposit account or certificate of deposit","body":"1.Except as otherwise provided in subsection 3, a bank with which a deposit account or certificate of deposit is maintained may exercise any right of recoupment or setoff against a secured party that holds a security interest in the deposit account or certificate of deposit.\n2.Except as otherwise provided in subsection 3, the application of this chapter to a security interest in a deposit account or certificate of deposit does not affect a right of recoupment or setoff of the secured party as to a deposit account or certificate of deposit maintained with the secured party.\n3.The exercise by a bank of a setoff against a deposit account or certificate of deposit is ineffective against a secured party that holds a security interest in the deposit account or certificate of deposit which is perfected by control under subdivision c of subsection 1 of section 41-09-04, if the setoff is based on a claim against the debtor.","path":["Title 41 Uniform Commercial Code","Chapter 41-09 Secured Transactions"],"source_url":"https://ndlegis.gov/cencode/t41c09.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"f55d8eff916a26b967db95862af532a70864765cdc23a26374975da4df0ba734","source_id":"us-nd","stale":false,"prev":"us-nd/n.d.-cent.-code-41-09-59","next":"us-nd/n.d.-cent.-code-41-09-61"},"notice":"GroundRules: Original legal text. Not legal advice."}